Which of the following groups believes that stabilization policy can have some short-run success, but cannot sustain that success into the long run?
a. classical school
b. Keynesian school
c. neo-Keynesian school
d. rational expectations school
e. supply-side school
C
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Travis can mow a lawn in two hours or he can trim a tree in one hour. Ricardo can mow a lawn in three hours or he can trim a tree in two hours
a. Travis has an absolute advantage over Ricardo in trimming trees. b. Travis has a comparative advantage over Ricardo in mowing lawns. c. Ricardo has a comparative advantage over Travis in trimming trees. d. All of the above are correct.
A decrease in government spending and the enactment of an investment tax credit would definitely cause
a. the quantity of loanable funds traded to increase. b. the interest rate to increase. c. the quantity of loanable funds traded to decrease. d. the interest rate to decrease.